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Holders of more than 97 percent of Marriott shares and over 95
percent of Starwood shares voted in favor of the cash-and-stock
deal, which was valued at $12.41 billion as of Thursday.
China's Anbang Insurance Group Co last week abandoned its $14
billion offer for Starwood Hotels, clearing the way for Marriott
to buy the owner of Sheraton and Westin hotel brands.
Marriott raised the cash portion of its offer to $21 per share
on March 21 from $2 per share, valuing the total bid at $73.42
per share as of Thursday.
Marriott said the deal was on track to close mid-2016.
"Our teams continue to plan the integration of our two
companies," Marriott Chief Executive Arne Sorenson said.
The deal has cleared the pre-merger antitrust review in the
United States and Canada and awaits approvals in the European
Union and China.
(Reporting by Ankit Ajmera and Arunima Banerjee in Bengaluru;
Editing by Don Sebastian)
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